Kuoni UK has welcomed the news that the group has been sold to REWE Group, owner of German operator DER Touristic, for an undisclosed sum.
In a statement, the UK managing director Derek Jones said that he believed the Kuoni brand would continue to thrive in the UK under the new ownership.
The entire Kuoni UK Group is included in the sale – affecting 726 staff – which includes the main Kuoni tour operating brand, its 34 Kuoni-branded travel shops and John Lewis concessions as well as specialist travel businesses Carrier, CV Villas, Kirker and Voyage Jules Verne.
The deal also includes tour operations in Switzerland, Scandinavia and the Benelux region.
But Kuoni Group is still looking for a buyer for the remaining tour operating activities in India, Hong Kong and China this year.
Derek Jones, managing director, Kuoni UK said: ”This is a really positive outcome for Kuoni UK. Over the course of the last six months, as part of the process announced in January, the UK management team has had the opportunity to meet with REWE on a number of occasions.
”We know that they share our ambition and we’re looking forward to working with them to further accelerate our growth.
”Personally, I’d like to thank the UK team and the travel trade for their amazing support throughout this process. What could so easily have been a distraction has actually been a real driver of momentum for our business.
”They will be delighted to learn that they will continue to be the trusted custodians of the Kuoni brand in the UK for the future.”
Rewe Group is acquiring the right to use the Kuoni brand in Switzerland and the UK, although it will still be owned by the Kuoni Group.
The two parties said they have agreed not to disclose the purchase price or contract details.
The deal, which is subject to the approval of the relevant competition authorities in the EU and Switzerland, is expected to complete in the third quarter of the year.
source Travel Mole